Terror link: No evidence against arrested cleric, says Bengaluru police chief

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

Bengaluru, Jun 5: The Karnataka government has asked all its departments and authorities to avoid during all official transactions the nomenclature "Dalit" for members belonging to the Scheduled Castes.

"All the departments and authorities of government of Karnataka are requested that (use of name Dalit) for all official transactions, matters, dealings, certificates, among others," the official circular said.

The Constitutional term Scheduled Caste in English and its appropriate translation in other national languages should alone be used for denoting the persons belonging to the Scheduled Castes/ Scheduled Tribes notified in the presidential orders issued under Article 341 of the Constitution, the circular said.

The circular issued on May 20 notes instructions issued by the Central government in 2018, with reference to the order of the High Court of Madhya Pradesh, Gwalior Bench.

"That the Central government/state government and its functionaries would refrain from using the nomenclature "Dalit" for the members belonging to Scheduled Castes and Scheduled Tribes as the same does not find mentioned in the Constitution or any statute," the order had said.

Pointing out that the Central government had earlier issued instructions that the words "Harijan" and "Girijan" should not be used, the circular said accordingly the Karnataka government also had issued a Government Order in 2010.

Bengaluru, Jul 4: A case has been filed against a man who posed himself to be the PMO's National Security Council 'youth advisor' during his visit to Bengaluru.

According to the police, Ankit Dey (22 yrs) who had visited Bengaluru between 16 to 20 June and for his stay at ITC Gardenia, posed himself as a youth advisor to National Security Council at PMO.

As per the information given by the hotel staff, the police department had communicated with the PMO. They got clarification that there is no such person designated in the Prime minister's office. A complaint has been filed in Cubbon Park police station.

"The man found to be 22-year-old as per the identity shown in the hotel, left his visiting cards. Although he did not ask for any discount in the hotel," said Police.

A senior police officer said, "A criminal case has been filed against the accuse 'Ankit Dey' under the section IPC 420 (cheating and dishonesty), 465 (forgery), 468 (forgery for purpose of cheating), 471 (using as a genuine forged document), 417 (cheating).

Police have started its work to find him as per the clues we have got. At this point of time, we can not reveal more details," Officer said.